Analyzing the market performance of Romanian firms: do the COVID-19 crisis and classification type matter?

Nuta, AC, Habib, AM, Neslihanoglu, S, Dalwai, T ORCID: https://orcid.org/0000-0001-5754-5384 and Rangu, CM, 2024. Analyzing the market performance of Romanian firms: do the COVID-19 crisis and classification type matter? International Journal of Emerging Markets. ISSN 1746-8809

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Abstract

Purpose: Stock market performance is paramount to every country, as it signifies economic growth, business performance, wealth maximization, savings deployment, and consumer confidence. This study investigates differences in the market performance of listed firms in Romania. This study also examines whether the COVID-19 crisis affected market performance.

Methodology: Data were collected from 69 firms listed on the Bucharest Stock Exchange (BSE) from 2018 to 2022, belonging to 11 sectors. This study used several methods to achieve its objectives. Difference tests were considered to analyze the performance of Romanian companies before and during the COVID-19 crisis, as well as across sectors. Regression analysis was also conducted to estimate the effect of the COVID-19 crisis and classification type on Romanian companies' performance. Additional analyses were performed to verify the findings of the present study.

Findings: The study’s findings indicate a discernible difference in market performance between the pre-crisis and crisis periods. COVID-19 negatively impacts market performance. In addition, there is a discernible difference in market performance between sectors. The communication services sector has specifically demonstrated accelerated growth.

Originality: This research analyzes the differences in the market performance of companies during pre-Covid-19 and the COVID-19 periods and across different sectors. It also provides evidence of the potential impact of COVID-19 on firms’ market performance. This research contributes to a better understanding of how sectors perform during a crisis.

Item Type:	Journal article
Publication Title:	International Journal of Emerging Markets
Creators:	Nuta, A.C., Habib, A.M., Neslihanoglu, S., Dalwai, T. and Rangu, C.M.
Publisher:	Emerald
Date:	15 January 2024
ISSN:	1746-8809
Identifiers:	Number Type 10.1108/IJOEM-05-2023-0842 DOI 1845591 Other
Rights:	© 2023, Emerald Publishing Limited. This AAM is provided for your own personal use only. It may not be used for resale, reprinting, systematic distribution, emailing, or for any other commercial purpose without the permission of the publisher.
Divisions:	Schools > Nottingham Business School
Record created by:	Laura Ward
Date Added:	08 Jan 2024 10:46
Last Modified:	23 Jan 2024 12:20
URI:	https://irep.ntu.ac.uk/id/eprint/50634

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